As Saudi Arabia seen a 60 percent drop in oil revenues since 2014, which was 40$ per barrel, Based on the decision of Council of Ministers petrol prices was hiked in kingdom of Saudi Arabia which is effected already from the date 29 December 2015.

Kingdom has set a new price for higher grade (Octane 95 gasoline) petrol with a hike of 50 percent from old price 60 halalas (0.6 riyal) per litre to a new price 90 halalas (0.9 riyal) per liter. The lower grade petrol (Octane 91 gasoline) with a hike of nearly 67 percent from old price 45 halalas (0.45 riyal) per litre to a new price 75 halalas (0.75 riyal) per liter. Recommended : Airport Building Charges ABC Tax

United Arab Emirates was the first Gulf state to liberalize oil prices in the year 2015, Now Saudi Arabia also hiked its prices as the price of petrol in the kingdom is the cheapest one in gulf, Another GCC states are considering the same in coming days. Recommended : UAE online visit visa for GCC residents

Prices of Electricity, Water, Sewage, Diesel, Natural gas, Crude Oil and Kerosene will also increase as per Council Of Ministers decision. Recommended : Iqama is now Muqeem